Frances Yoon' s stories

The Republic of Indonesia capped its return to full investment-grade status with a strong US response to last Monday’s US$4bn Global offering, its first SEC-registered bond issue in more than 20 years.

The Republic of Indonesia leveraged its recent upgrade to full investment-grade status to expand access to global investors with its first SEC-registered bond in more than 20 years, resulting in a tight print for a US$4bn triple-tranche deal.

Alibaba Group attracted global demand of nearly US$40bn for its second offering of US dollar bonds, as investors ignored tepid market conditions in pursuit of the Chinese e-commerce giant’s sizzling growth and big data ambitions.

Alibaba Group Holding is said to be planning to sell US dollar bonds this month, hot on the heels of better-than-expected quarterly revenues and the e-commerce company’s Singles’ Day retail event on November 11.

Indika Energy took full advantage of strong demand for high-yield credits to raise funds for a doubling of its stake in an Indonesian coal producer, a move that is expected to lead to higher credit ratings and better financials.

Global investors rewarded the Government of Mongolia’s efforts to tidy up its external debt profile with tight pricing on a US dollar bond issue that nearly sliced in half the Caa1/B–/B– rated sovereign’s cost of borrowing compared with last year.